Farecast Takes $12 Million More

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For good or bad, venture funds are flowing like it’s 1999 all over again. Seattle-based Farecast , which predicts and guarantees airline prices, dipped its toes in the cash pool for its third round of financing, taking $12.1 million from Sutter Hill Ventures and others. Previous investors Greylock Partners, Madrona Venture Group, and WRF Capital also participated, as well as new investors PAR Capital Management, Pinnacle Ventures, and Farecast board member and former Expedia CEO, Erik Blachford.

The company has now raised $20.6 million over three rounds. How are they doing? The model seems to be attractive to consumers. Farecast VP Marketing says in just the last few months since launch they’ve “dropped off $200 million in “potential” revenue to airline websites,” a fraction of which will have resulted in actual sales.

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CrunchBase

OverviewFarecast offers a unique service by providing its users with intelligent airfare predictions. Founded in 2003, Farecast has since gained very healthy funding from several venture funds totaling $20.6 million. Unlike other travel companies, Farecast predicts when a user should buy a ticket based upon 175 billion points of previous airfare data. Its engine can currently predict whether airfare goes …